Genworth Financial (GNW) Approaches New Upside Target of $9.34
Genworth Financial (NYSE:GNW) has opened bullishly above the pivot of $9.11 today and has reached the first level of resistance at $9.26. Analysts will be watching for a cross of the next upside pivot targets of $9.34 and $9.57.
Over the past year, Genworth Financial has traded in a range of $4.06 to $9.68 and is now at $9.30, 129% above that low. The 200-day and 50-day moving averages have moved 0.54% higher and 4.30% higher over the past week, respectively.
Based on a current price of $9.30, Genworth Financial is currently 6.8% above its average consensus analyst price target of $8.67. The stock should find initial support at its 50-day moving average (MA) of $7.44 and further support at its 200-day MA of $5.92.
SmarTrend recommended that subscribers consider buying shares of Genworth Financial on September 7th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.56. Since that recommendation, shares of Genworth Financial have risen 64.9%. We continue to monitor GNW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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